| Disclaimer You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
Edited version of private advice
Authorisation Number: 1052476599741
Date of advice: 25 November 2025
Ruling
Subject: CGT - property
Question
Is the capital gain you made on the sale of the property apportioned according to the terms of the court orders?
Answer
Yes. The court orders alter your equitable interest in the property. Your capital gain is calculated according to your equitable interest. Therefore, your capital gain is apportioned according to the terms of the court orders.
This ruling applies for the following period:
Year ended 30 June 20XX
The scheme commenced on:
1 July 20XX
Relevant facts and circumstances
You and your ex-spouse owned the property as joint tenants.
On XX XXX 20XX, the Federal Circuit and Family Court of Australia issued Financial Consent Orders (the court orders) in relation to your divorce.
The court orders directed you to sell the property and pay a certain sum out of the proceeds to your ex-spouse. The balance was to be divided equally between you and your ex-spouse.
The property was sold on XX XXX 20XX pursuant to the court orders.
Relevant legislative provisions
Income Tax Assessment Act 1997 section 104-10